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MedAssets Inc was incorporated in 1999. It is a financial and performance improvement company providing technology-enabled products and services that, together, help mitigate the increasing financial challenges faced by hospitals, health systems, and other non-acute healthcare providers. Its solutions are designed to reduce the total cost of care delivery, enhance operational efficiency, align clinical delivery of physicians and staff to advance care coordination, and improve revenue performance mainly for hospitals and health systems. The Company's solutions integrate with its clients' existing operations and enterprise software systems, and require minimal upfront costs or capital expenditures for its clients. Its technology-enabled solutions are delivered through company-hosted software, sometimes referred to as software as a service or Web-based applications, supported by implementation, process improvement consulting and outsourced services, as well as enterprise-wide sales and client management support. The Company manages its business through two business segments, Spend and Clinical Resource Management (CM) and Revenue Cycle Management (RCM). Within the SCM segment it provides a comprehensive suite of cost management services, supply chain analytics and data capabilities that help its clients reduce their total cost of care delivery, enhance their operational efficiency and align their clinicians' delivery of care with advance care coordination. Its solutions lower operating costs through compliance to its strategic sourcing of supplies and purchased services at discounted prices, supply chain outsourcing and procurement services capabilities. It also help to improve care processes and reduce care variations through the use of its clinical and process improvement consulting services, workforce optimization solutions and business analytics and intelligence tools. The Company's RCM segment is a provider of revenue cycle management solutions to healthcare providers, mainly hospitals and health systems. It provides SaaS or Web-based software and technology-enabled services designed to improve revenue performance for healthcare organizations through patient access and financial responsibility, clinical documentation, charge capture and revenue integrity, pricing analysis, claims processing and denials management, payor contract management, extended business office revenue recovery, accounts receivable services and outsourcing. As of December 31, 2013, the Company's client base included more than 4,400 acute care hospitals and approximately 122,000 ancillary or non-acute provider locations. The Company competes with Allscripts Corporation, Epic Systems Corporation, McKesson Corporation, Siemens AG; Accenture Ltd., Accretive Health, Inc., Deloitte & Touche LLP, Ernst & Young LLP, Craneware Inc., Emdeon Inc. and among others. The Company is subject to federal and state laws and regulations designed to protect patients, governmental healthcare programs, and private health plans from fraudulent and abusive activities. The products offered through the group purchasing contracts are subject to direct regulation by federal and state governmental agencies.